Results are highly cyclical for VWTR, so multiple-based fair value is less reliable here.
| FY | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High | — | — | — | 21.86 | 35.37 | 43.35 | 48.30 | 24.77 | 26.31 | 19.02 | 15.65 | 19.85 | 13.15 | 11.64 | 10.60 |
| Low | — | — | — | 20.93 | 21.04 | 29.72 | 30.53 | 20.28 | 15.99 | 8.50 | 7.91 | 12.40 | 9.00 | 9.40 | 6.54 |
| Adj EPS | 0.39 | 0.48 | -0.26 | -0.85 | 1.23 | 1.95 | -0.07 | -0.88 | -1.51 | -4.40 | -0.81 | 0.15 | -0.18 | 0.48 | 0.13 |
| Chg/Yr | — | +24% | -155% | — | — | +58% | -103% | — | — | — | — | — | -225% | — | -74% |
| Div | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.00 | 0.00 | 0.00 | 0.00 |
Fair value (7.0x) multiplies each year's earnings per share by a growth-based multiple: steady growers (5–15% a year) get 15x, faster growers get their growth rate as the multiple (capped at 30x), and slower growers step down below 15x. VWTR has grown earnings about -6.7% a year, so the line uses 7.0x.
Earnings are adjusted figures on the same basis analysts forecast, built from reported quarters; years beyond the last completed fiscal year use the analyst consensus (dashed). The verdict calls a stock over- or undervalued only when the price sits more than 10% from the fair value line.